BTC came to 29.2k and bounced very well from it as expected. Homever when some coin is reaching support or resistance it should be loosing momentum,but btc is gainging momentume and thats what scares the most.
BTC depends on multiple thing, one of most important things is annoucment that will take place tomorrow and its update on how goverment is fighting inflation.
If inflation is decreasing or slowing down, then btc might be at lowest point now.
But if not, all markets(stocks,crypto..) will drop fast.
If we break current support ( about 29k), I will be shorting some altcoins or maybe even bitcoin first to 20k and then if it gets broken to 12k area.
So basically tomorrows update matters much. Btc is currently in demand zone and if it gets broken we will see dump.
This is not financial advice, I am just sharing my opinion.
BTC depends on multiple thing, one of most important things is annoucment that will take place tomorrow and its update on how goverment is fighting inflation.
If inflation is decreasing or slowing down, then btc might be at lowest point now.
But if not, all markets(stocks,crypto..) will drop fast.
If we break current support ( about 29k), I will be shorting some altcoins or maybe even bitcoin first to 20k and then if it gets broken to 12k area.
So basically tomorrows update matters much. Btc is currently in demand zone and if it gets broken we will see dump.
This is not financial advice, I am just sharing my opinion.